We don't rely on China for profits, says Burberry

Burberry reported a 26 per cent increase in its half-year profits yesterday, and played down fears of an economic slowdown in China by emphasising the global reach of the luxury brand.

The company's shares have been buffeted by concerns about China recently, but Burberry stressed that the Chinese market accounted for only 10 per cent of its global revenues and that Shanghai and Beijing were only two of its 25 flagship markets around the world. The chief executive of Burberry, Angela Ahrendts, said: "[China] is a nice and strong market, but it is not a market that Burberry is overly dependent on. There are 25 Londons around the world and that is where Burberry is focused."